Amitell Capital Pte Ltd Takes Position in Futu Holdings Limited Sponsored ADR $FUTU

Amitell Capital Pte Ltd acquired a new stake in shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 5,377 shares of the company’s stock, valued at approximately $883,000. Futu comprises approximately 1.0% of Amitell Capital Pte Ltd’s holdings, making the stock its 17th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of Futu during the third quarter valued at approximately $3,439,000. Capital International Inc. CA bought a new stake in shares of Futu during the third quarter valued at approximately $39,369,000. Quadrature Capital Ltd increased its holdings in shares of Futu by 818.0% during the third quarter. Quadrature Capital Ltd now owns 211,407 shares of the company’s stock valued at $36,766,000 after acquiring an additional 188,379 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Futu by 225.8% during the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 37,648 shares of the company’s stock valued at $6,182,000 after acquiring an additional 26,091 shares in the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. bought a new stake in Futu during the third quarter worth $64,250,000.

Futu Trading Up 2.8%

FUTU stock opened at $95.53 on Friday. The stock’s fifty day simple moving average is $133.82 and its two-hundred day simple moving average is $150.38. Futu Holdings Limited Sponsored ADR has a 1-year low of $80.50 and a 1-year high of $202.53. The stock has a market cap of $13.39 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.09 and a beta of 0.40.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $2.89 by ($2.12). Futu had a return on equity of 26.48% and a net margin of 41.87%.The business had revenue of $694.17 million during the quarter, compared to analysts’ expectations of $761.35 million. As a group, analysts forecast that Futu Holdings Limited Sponsored ADR will post 8.95 earnings per share for the current fiscal year.

Futu Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Wednesday, April 29th. Shareholders of record on Thursday, April 16th were given a $2.60 dividend. The ex-dividend date of this dividend was Thursday, April 16th. Futu’s payout ratio is currently 28.05%.

Analyst Ratings Changes

FUTU has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $87.00 price target (down from $300.00) on shares of Futu in a report on Friday, May 22nd. The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a report on Monday, May 25th. Wall Street Zen downgraded Futu from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Barclays decreased their price target on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $170.50 price target on shares of Futu in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $162.80.

Futu Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.